Advanced Learner Loans – Invest in your future
If you’re planning to study at Level 3 to 6, apply for an Advanced Learner Loan to cover the cost of your tuition fees. The loan is easy to apply for, doesn’t involve a credit check and you don’t have to pay it back until you’ve finished your course and you’re earning over £26,575 a year.
Am I eligible?
To be eligible for an Advanced Learner Loan you need to be:
- Aged 19 or over on the first day of your course
- Resident in the UK for three years prior to the start of the course
- Enrolling on an eligible course at Level 3, 4, 5 and 6
How much can I access?
The amount you can get depends on your course; the tuition fees and the maximum amounts available for your chosen course are set by the Government. The minimum loan amount is £300 and you don’t have to borrow the full cost of your course – you can pay for some of it yourself.
How do I repay my loan?
Repaying an Advanced Learner Loan is straight forward:
- Monthly repayments are calculated based on your income, not what you borrow.
- You’ll only start making repayments when your income is more than £511 per week, £2,214 per month or £26,575 per year.
- Your repayments will stop if your income drops below £26,575 a year.
- Your annual repayment amount will be 9% of any income you earn over £26,575.
- Monthly repayments are made directly to the Student Loans Company through the tax system.
- You have the right to make payments or to pay back your loan in full at any time without incurring penalties.
- Any balances outstanding are written off after 30 years.
How do I apply?
Please email Tracey Cranmer: firstname.lastname@example.org.
Advanced Learner Loans Bursary Information 2019/20
|Household income* (including benefits)||Bursary||Percentage of approved additional costs to be paid||Payment Per Term||Minimum Attendance Required|
|Less than £11,800||Full||100%||£300||85%|
|£11,801 – £25,000||Standard||50%||£150||85%|
|£25,001 and above||Partial||25%||NIL||Not applicable|
This supersedes the previous information as from September 2018.
All bursaries are subject to approval. Childcare will be assessed separately.
*Household income threshold based on HMRC allowances and the benefit cap.